Uzbekistan to Adopt BTC Bill
A new law signed by President Shavkat Mirziyoyev says that Uzbekistanian institutions should finalize a draft law to legally regulate cryptocurrencies, or “electronic money”, by September 1st of this year.
The Ministry of Information Technologies & Communications, the Finance Ministry, the Ministry of Economy, and the Central Bank thereof have been tasked to prepare the bill.
President Shavkat Mirziyoyev has also ordered respective authorities to setup a “Center for Distributed Ledger Technologies” within the newly built Mirzo Ulugbek Innovation Center.
Its sole responsibility will be to create conditions for utilizing blockchain.
The new department will be working to increase qualifications and support local developers in mastering DL technologies.
The center should be opened on June 1st of this year.
The President also called for quick development of contactless payments in the nation by expanding the use of international payment systems.
A set of complex measures to accomplish this end goal are also expected by June.
The Presidential decree handed down represents a positive change in regards to cryptocurrencies in the region.
Previous comments by Tashkent officials have indicated a different approach from officials.
Reps of the Central Bank of the Republic of Uzbekistan had referred to cryptocoins as “instruments of terrorism financing”.